Reuters: Regulatory News: Regulator tells Nomura to improve after insider case

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Regulator tells Nomura to improve after insider case Aug 3rd 2012, 03:12 TOKYO | Thu Aug 2, 2012 11:12pm EDT TOKYO Aug 3 (Reuters) - Japan's Financial Services Minister Tadahiro Matsushita said on Friday he has issued an order to Nomura Holdings to bolster internal controls after its brokerage was found to have leaked inside information on share offerings. The so-called business improvement order requires Nomura to take various steps to bolster compliance and report regularly to the Financial Services Agency (FSA) on its efforts. The move was widely expected after the agency that handled the investigation recommended that level of sanction earlier in the week, stopping short of seeking a more damaging suspension of some operations for weeks or months.

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